Jump to content

US Gross Domestic Product Shrinks 0.9% in Second Quarter as Investment Slumps


Recommended Posts

Posted

US Gross Domestic Product Shrinks 0.9% in Second Quarter as Investment  Slumps

Jul 28, 2022 | DailyFX
Diego Colman, Market Analyst

US GDP KEY POINTS:

  • U.S. gross domestic product contracts 0.9% on an annualized basis in the second quarter, following a 1.6% decline in the first three months of the year
  • Two consecutive quarters of negative GDP growth is informally called a technical recession, but the government has a broader and more comprehensive definition
  • The deteriorating economic outlook may lead Federal Reserve officials to adopt a more dovish stance in the coming months to avoid a significant downturn

The U.S. economy failed to rebound and posted another contraction in the second quarter due to a rapid cooling of household consumption and steep drop in investment, a sign that the outlook continues to deteriorate amid mounting headwinds, including four-decade high inflation, and tightening financial conditions. According to the Commerce Department, gross domestic product, the broadest measure of goods and services produced by a nation, shrank 0.9% on an annualized basis, following a 1.6% drop during the first three months of the year. Analysts polled by Bloomberg were expecting a 0.4% increase in real GDP.

 

Full article on DailyFX

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • I tried out Ink Finance ($QUILL), and it feels like a game changer for anyone managing DAOs or looking into RWA tokenization and with the no-code framework makes it super accessible, even for traders like me. Also, seeing how it bridges traditional finance and Web3 has been eye-opening and It’s amazing how far DeFi tools have come this one looks tailored for scalability and compliance. Currently listed on BingX, and I’m excited to see where it goes from here. If you’re into DAOs or crypto governance, this is worth checking out.  
    • SP500 (SPX), NASDAQ 100 (NDX), Apple (AAPL), Tesla (TSLA), Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), Alphabet (GOOGL), Bitcoin (BTC). Stock market Elliott Wave technical analysis and trading strategies: Risk on for stocks and Indices. SP500 supported on 6000 and the Nasdaq supported on 20,000 with many stocks pushing up of their current lows with Impulse structures. Elliott Wave Analysis NASDAQ Tech Stocks:  SP500 (SPX): Wave (iii) of iii) of 5 of (5) of 3) NASDAQ 100 (NDX) Wave (iii) of iii) of 5 of (5) of 3) Apple (AAPL): Wave (iii) of iii) of 3 Amazon (AMZN): Wave  (i) of v) of 3 NVIDIA (NVDA): Wave i) of 5 Meta Platforms (META): Wave iii) of 5 Netflix (NFLX): Wave i) of 5 Alphabet (GOOGL): Working two counts Microsoft MSFT: If a Classic Trading levels pattern is created on Minor Group 1 430 then we can move in long. Tesla (TSLA): Wave (i) of v) Risk On  Bitcoin: (BTC): Wave 4 Financial Events JOLTS Job Openings ADP Non-Farm Employment Change Video Chapters 00:00 SP500 (SPX) 03:16 NASDAQ 100 (NDX) 05:53 Apple (AAPL) 12:08 Amazon (AMZN) 15:43 NVIDIA (NVDA) 20:26 Meta Platforms (META) 22:26 Netflix (NFLX)  24:19 Alphabet (GOOGL) 26:04 Microsoft MSFT 27:11 Tesla (TSLA) 28:35 Bitcoin 31:48 End Analyst Peter Mathers TradingLounge™  Source: tradinglounge.com     
    • BAJAJ AUTO – BAJAJAUTO (1D Chart) Elliott Wave Technical Analysis Function: Counter Trend (Minor degree, Grey) Mode: Corrective Structure: Impulse within larger degree corrective structure. Position: Minor Wave 1 Grey Details: Minor Wave 1 is potentially complete around 9080 levels. If correct expect a counter trend rally to materialize soon to terminate Minor Wave 2 Grey. Invalidation point: 12900 BAJAJ AUTO Daily Chart Technical Analysis and potential Elliott Wave Counts: BAJAJ AUTO daily chart is indicating a potential high in place around 12900 mark terminating Intermediate Wave (5) Orange. Furthermore, prices have turned lower and carved an impulse wave reaching almost 9000 mark at the time of writing. If the above is correct, the stock should produce a corrective rally against recent lows and reach through the 11000 mark in the next few trading sessions. Earlier, the stock had dropped through 3000-100 range around December 2021. Since then, a five wave rally could be clearly seen as Minor Waves 1 through 5, reaching the 12900 mark. Bears have remained in control since then, dragging prices through 9000 levels. Expect a counter trend rally to materialize soon.   BAJAJ AUTO – BAJAJAUTO (4H Chart) Elliott Wave Technical Analysis Function: Counter Trend (Minor degree, Grey) Mode: Corrective Structure: Impulse within larger degree corrective structure. Position: Minor Wave 1 Grey Details: Minor Wave 1 is potentially complete around 9080 levels. If correct expect a counter trend rally to materialize soon to terminate Minor Wave 2 Grey. Invalidation point: 12900 BAJAJ AUTO 4H Chart Technical Analysis and potential Elliott Wave Counts: BAJAJ AUTO 4H chart is highlighting the sub waves from Minor Wave 3 Grey, which terminated around 10100-200 zone in June 2024. Minor Wave 5 rallied through 12900 mark sub dividing into five waves. Furthermore, the drop from all-time highs has now reached 9000 levels at the time of writing. It is pretty close to taking out previous Wave 4 of one lesser degree around 8770 mark. The initial drop between 12900 and 9000 levels is an impulse. If correct, a rally should soon resume from here to carve Minor Wave 2 Grey. Conclusion: BAJAJ AUTO has terminated Minor Wave 1 close to 9000 levels or is near to completion. Bulls should be preparing to come back in control to carve Minor Wave 2 Grey. Elliott Wave Analyst: Harsh Japee Source : Tradinglounge.com get trial here!  
×
×
  • Create New...
us